Convenience Products are the items a consumer seeks to purchase frequently, immediately, and with little effort.
These refer to frequently purchased, inexpensive items that buyers spend little effort to find and purchase but require on a daily basis.
Convenience products are consumer products and services that customers have to usually buy frequently and with minimal comparison and buying effort. Examples of these products include rice, cooking oil, laundry detergent, candy, magazines, and fast food.
They are usually low priced, and marketers place them in many locations to make them readily available when customers need or want them.
Types of Convenience Products
There are three major types of convenience products in the market and they are -
- Staple Products (regular grocery items that are frequently bought but require no thought) - Example: Rice, flour, oil etc.
- Impulse Products (unplanned buys that are less necessary and more impulsive in nature) - Example: Candy, ice cream, chewing gum etc.
- Emergency Products (urgent buys that cannot be planned but must be obtained when the need arises) Example: Umbrella, raincoat in the Rainy Season etc.
Use of the Term in Sentences
- Convenience products are one of the most widely sourced consumer goods in the market.
- Twenty-first-century households are highly dependent on value added convenience products as cooking has become an occasional endeavor among the lot.
- Cake mixes are an example of a convenience product that people that easily do without.